Within his recently unveiled memoir, named Ithaki, the ex- leader Tsipras does not hold back as he revisits the chaotic period during Greece's financial crisis.
A Controversial Appointment
According to the ex-PM's recollections, Tsipras selected that unorthodox academic Varoufakis as his finance minister largely because of the latter's global profile and his “extremely attractive” abilities as a communicator.
“In reality, he was, truthfully, more like a star and less of an economist,” recalled the 51-year-old.
Conflicting Priorities
Tsipras suggests how Varoufakis had his own motives which included promoting his books and experimenting with his theories using Greece rather than genuinely fighting for the country's financial survival.
Tsipras explained that the talks to prevent bankruptcy became “not only a method to secure a better deal for Greece. They were a test, a monumental opportunity to prove the validity of his economic theories.”
Critical Talks
Amid rollercoaster negotiations, the country came perilously on the brink of exiting the single currency area.
On the line was not only Greece's destiny and those harsh cutbacks demanded in return for financial aid from foreign lenders.
Unsuccessful Alternatives
Efforts to secure financing elsewhere, including a desperate appeal to Russia to buy Greek bonds, were rejected.
Assisting the indebted country would be tantamount to tossing cash into the garbage, Putin reportedly informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
That summer, the punitive bailout terms were subjected to a public vote, an action which threw Europe into a further existential crisis.
Even though the vote was carried decisively by voters against the cuts, the prime minister was forced to reject its outcome then agree to a bailout package from foreign lenders that proved to be even harsher.
Breaking Point
Tsipras claimed how he started questioning Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the man who drew media attention, who appeared on the covers of publications the world over … it seemed he was enjoying his new role.”
When Varoufakis outlined a backup strategy that included creating a secondary currency and distributing vouchers to retirees, the leader said he realised that it was game over questioning Varoufakis: “Can you be serious?”
Lasting Criticism
In the memoir, Tsipras concludes that his former ally had proved himself to be “unfit for an agreement demanding intricate and sensitive management.”
Tsipras further wrote that his aggressive approach left him more and more alone among peers, endangered the country, while assisted hawks who were advocating a Greek exit from the euro.
This retelling of events has provoked fury along with shock among certain groups, whereas the former minister has kept a deafening silence regarding these claims.
